0247 GMT - Droneshield has disappointed at least one of its bulls over the past 12 months, but the security tech provider's near-term outlook keeps them interested. Bell Potter analyst Daniel Laing tells clients in a note that 2024 revenue missed his forecast by 13% but that 2025 has started much more positively. Droneshield, which develops drone-detection hardware and software, has already contracted revenue equivalent to 83% of 2024's total. This is well ahead of expectations, Laing writes. He makes no changes to his annual revenue forecast, preferring to be conservative. Bell Potter trims its target price 8.3% to A$1.10 on higher operating-expense forecasts, but keeps a buy rating on the stock. Shares are up 5.1% at A$0.6725. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 29, 2025 21:48 ET (02:48 GMT)
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